Texas Capital Bancshares (NASDAQ:TCBI) Reaches New 12-Month High on Analyst Upgrade

Texas Capital Bancshares, Inc. (NASDAQ:TCBI)’s share price reached a new 52-week high on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $105.99 and last traded at $104.19, with a volume of 77848 shares traded. The stock had previously closed at $102.48.

Several other research analysts also recently commented on the stock. DA Davidson lifted their target price on shares of Texas Capital Bancshares from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Barclays raised their price target on shares of Texas Capital Bancshares from $90.00 to $100.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. Hovde Group upped their price objective on shares of Texas Capital Bancshares from $93.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday, January 27th. Stephens raised their target price on Texas Capital Bancshares from $111.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Texas Capital Bancshares in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.17.

Insider Activity

In other Texas Capital Bancshares news, Director Laura L. Whitley acquired 500 shares of the business’s stock in a transaction on Monday, January 26th. The shares were acquired at an average price of $97.51 per share, for a total transaction of $48,755.00. Following the completion of the acquisition, the director owned 7,961 shares in the company, valued at $776,277.11. This trade represents a 6.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Stallings bought 2,000 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was bought at an average cost of $20.91 per share, for a total transaction of $41,820.00. Following the completion of the purchase, the director owned 277,913 shares of the company’s stock, valued at approximately $5,811,160.83. The trade was a 0.72% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 3,000 shares of company stock worth $139,355 in the last three months. 1.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Danske Bank A S purchased a new position in Texas Capital Bancshares in the third quarter worth about $25,000. Farther Finance Advisors LLC increased its position in shares of Texas Capital Bancshares by 1,381.8% during the 4th quarter. Farther Finance Advisors LLC now owns 326 shares of the bank’s stock valued at $30,000 after purchasing an additional 304 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Texas Capital Bancshares in the 3rd quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Texas Capital Bancshares by 169.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank’s stock worth $35,000 after buying an additional 246 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in Texas Capital Bancshares during the third quarter valued at approximately $39,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Texas Capital Bancshares Trading Down 1.5%

The firm has a market capitalization of $4.72 billion, a PE ratio of 15.22, a PEG ratio of 0.51 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $95.71 and its 200 day simple moving average is $88.73.

Texas Capital Bancshares (NASDAQ:TCBI) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.30. Texas Capital Bancshares had a return on equity of 10.05% and a net margin of 16.52%.The business had revenue of $327.48 million during the quarter, compared to analyst estimates of $324.09 million. During the same quarter in the previous year, the company posted $1.43 earnings per share. On average, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current year.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.